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Last updated on November 3, 2015

Progressive Review

Progressive is a top national commercial auto insurer with a diverse set of policy options to meet virtually any business need. The company doesn't underwrite general liability or business owner's policies, however, directing customers to third-party partners under the Progressive Commercial AdvantageSM program.

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The Good

Superb commercial auto policies and policy services

According to the National Association of Insurance Commissioners, Progressive ranks as the nation’s second-largest commercial auto insurer by market share, accounting for nearly 7% of all commercial auto premiums in 2012. The company delivers an impressive array of coverage options that enable you to design a policy that targets your special coverage needs. Whether you want to insure a single passenger sedan or a fleet of dump trucks, Progressive has the policy options to provide you with comprehensive coverage for all the risks you and your employees face on the road. As the nation’s biggest commercial truck insurer, Progressive is an especially strong choice for trucking businesses that utilize long-haul semi trucks and tractor trailers. Progressive agents are expert in all state and federal commercial truck insurance filing requirements, and even take care of filings for you whenever possible. Unlike many other commercial insurance companies, the Progressive website delivers an online commercial auto insurance quote tool, which requires less than 15 minutes to complete in most cases.

Superior financial ratings

When it comes to financial strength and general creditworthiness, Progressive stands out as one of the best-rated insurers in the country. According to A.M. Best, a top national ratings agency, Progressive has superior financial strength and superior ability to meet its ongoing financial obligations. Similarly, Moody’s and Standard and Poor’s both judge Progressive’s insurance operations very highly and assign very low credit risk to the company. Specifically, A.M. Best gives Progressive a rating of A+, Moody’s gives an Aa2 rating, and Standard and Poor’s assigns an AA rating, all of which place near the top of the respective rating scales. Given this kind of financial standing and positive outlook, you can feel confident Progressive will be there when you need them.

Good discount opportunities for commercial auto policies

Progressive delivers some of the best commercial auto discount opportunities in the industry. If you already have a general liability business policy or a business owner’s policy in place, you’re in line for savings of up to 15% on a commercial auto policy, no matter what company your business policy is under. Additionally, you enjoy further savings of up to 5% if your business has been operating for a minimum of three years. On top of this potential savings, you’re also eligible for up to 10% additional savings on your auto policy when you pay your full premium upfront.

Decent business insurance learning resources

The Progressive website is a good resource for learning about commercial auto insurance and business insurance. Find helpful descriptions of complex insurance coverage options, a detailed insurance glossary, and insurance buying guides for commercial auto policies and business policies for a variety of different industries. In comparison to other top insurers, Progressive really stands out for the depth and clarity of learning resources made available to potential buyers.

The Bad

Business owner's policies underwritten by third-party insurers

Commercial auto insurance is the only business product Progressive handles in-house. All other business policies, such as general liability, property, or workers compensation policies, are sold under the Progressive Commercial AdvantageSM program written by third-party insurers. If you purchase a policy through the program, all associated services — including billing, claims, and customer service — are handled by the third-party insurer, not Progressive. Although well-known insurers like CNA, Hanover Insurance Group, Travelers, and The Hartford all make policies available through the Progressive Commercial AdvantageSM program, it’s important to be cognizant of just who you’re dealing with when shopping for a business policy under this program.

The Details

Financial Strength

  • A.M. Best FSR Rating: A+
  • A.M. Best ICR Rating: aa
  • Moody's Rating: Aa2
  • Standard & Poor's FSR: AA
  • Standard & Poor's ICR: AA